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Nortel's Coming Out Party (a.ka. an AGM)
For investors still curious about Nortel Networks' plans for an AGM, you can now mark down June 29 on your calendars. In a regulatory filing today, Nortel said its 2004 and 2005 AGMs will be held then. If you like corporate drama, we can only hope the AGM is anywhere near as exciting as Nortel's last AGM in Halifax. That meeting lasted more than five hours due to questions from shareholders, and required an unscheduled break for lunch to placate the hungry masses. Let's hope Nortel shareholders don't get lulled into complacency by CEO Bill Owens' deliberate and calming tones. This is a rare opportunity to grill…i mean, question…senior management about what the company's embarassing accounting scandal, including the firing of ex-CEO Frank Dunn.